>>1021932 You will not have a house in matter of 5 to 10 years (depends on the extreme level of your climate) if you don't put effort in maintaining it, externally and internally. It's really subjective tho. + all the taxes depending on the country you live.
>>1021932 the lack meaningful returns on your capital wealth. A personal Home is not an investment. Its at best a savings account. after maintenance and taxes netting around 3% real$, average across the US.
>>1022006 I always hear this argument and think of that loss in in capita gains being offset by the savings in the Morgan's payment.
Example: my house payment minus tax and insurances is like 550, I want to pay off my 80k mortgage because 550/month is a better return on 80k than having that 80k in a mutual fund getting 8%. What's your thought Li? Do you disagree with my reasoning?
Li is right. A single family home on average will only provide you a hedge against inflation. It doesnt actually increase in value. On average of course. For every fucker who lucked out and bought a house in san francisco there are others who have seen their neighborhood and property value go to shit. Its basically zero sum.
Owning a property is a good thing but if youre looking for your highest return on investment its not always the way to go.
Yes. Homeowners insurance, HOA fees, flood insurance if you live in an area that gets floods frequently, utilities, oil if the home has oil heat, maintaining the property if it's dated (new roof, new HVAC unit, new wiring, plumbing, etc).
I have a question for you about the relative "stickyness" of housing prices vs. rent prices.
Say there is a city where a factory closed down. The city is diversified but it did take a hit. Houses were appreciating at 7% for several years but right now there are lots on the market and its clear that sellers are not going to get what they want. Rent remains high. Is now a time to buy a house and rent it out? Or does rent typically follow suit within a year or so?
houses are great investments if you're renting them out. If you have good credit and your region is good then it's very likely that a tenants rent payment can cover your mortgage and then some. downside: you're responsible for upkeep and maintenance and most states allow tenants to withhold rent if their place is considered unlivable and the eviction process is slow.
the house serves a dual benefit of growing slowly in value over time as well as generating passive income. I've never met a landlord who lost money on a property as long as they were good judges of applicants.
>>1022038 Its tough to say. how much of the city was employed by the factory is the main factor here. If it was anything above about a completely arbitrary 3% of the cities population I'd be worried. Of note also is how much of the cities capital came from the employees. Military towns turn to garbage very soon if the base leaves as they were very much 3rd degree service industry towns to begin with. How many other primary or secondary degree businesses are in the town also. The circular human centipede dies, but the one with an open end lives.
That said factories are just specialized real estate in and of themselves, there could be a new manufacturer in there ricky tick and all would be well. You'll have made some nice maneuvers.
>>1022101 Every time I see that smug little shit Chinaman posting on my board, I can't help but consider leaving this cancer board. Where is forced anon when you need it? The only tripfag who has anything decent to say is ihaz, and I could do without him too.
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Judging by the numbers on the closed plants below 100 workers per closing I wouldn't be worried
US steel though is much more of a gamble Fairfield has 11000 people 1200 just got laid off. You're gonna be picking properties up for land value like hot cakes. and even then its all up to the steel market. Its a one company town. I wouldn't be surprised to pick up properties for $500
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